United States of America: Fiscal Year 2024 Revenue Proposals including expansion of wash sale rules to digital currencies

Progress

Current status
under deliberation
09 Mar 2023 under deliberation

Scope

Implementers
United States of America
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
national

Timeline of events

09 Mar 2023
under deliberation

Proposed expansion of wash sale rules to digital currencies

On 9 March 2023, US President Joseph Biden unveiled his Budget Proposal for 2024. One of the proposals is to expand the wash sale rules in Section 1091 of the Internal Revenue Code to digital currencies. For tax purposes, the sale of digital currenc…

Source
Event type order
Action type announcement
Government branch executive
Government body central government